Ten Reasons to Obtain a Credit Report

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If you are planning on filing for bankruptcy, it is
important to get a clear picture of your credit history. The information
provided on reports by the main credit bureaus (Experian, Equifax, and
TransUnion) will help you and your bankruptcy attorney accomplish the
following:

1. Ensure that a comprehensive list of
creditors, their addresses, type of debt, balances due, and account numbers are
compiled accurately. This is important so that all your creditors are notified
of your bankruptcy and all unsettled debts are accurately listed and covered by
your bankruptcy filing.

2. A credit report can locate any forgotten creditors
and debts so they can be properly listed and subsequently discharged.

3. Credit reports will list any judgments or pending
lawsuits against you that need to be addressed.

4. Obtaining credit reports can help stop collection agency harassment by
providing name and contact information for the agencies representing your
creditors. This allows you to notify them of your impending bankruptcy
and halt their debt collection efforts.

5. Credit reports can alert you to any co-signers
involved in your debts, which are important to list in your bankruptcy filing.

6. In the case of a married couple, the credit reports
can indicate items that you are unaware of and assist in determining if you
should file individually or jointly with your spouse.

7. You may find out about debts that were incurred by
a previous spouse, possibly without your knowledge.

8. The reports can highlight any credit bureau errors
and allow you to take corrective action.

9. Liens against your property will be noted, enabling
you and your attorney to seek lien avoidance in order to protect your property.

10. If the Internal Revenue Service has also put a tax
lien on your property it will be noted in the reports. Again, knowledge
of the situation will allow you and your attorney to take appropriate action.

When contemplating bankruptcy, it is import to be
aware of all of your credit history. Relying on memory may not be
adequate or accurate. Obtaining copies of your credit reports will ensure
that you are aware of all outstanding credit issues and allow you and your attorney
to take all necessary actions so your bankruptcy filing can go as smoothly as
possible.